I tried to rent recently, its absolutely ludicrous. Nothing lasted 24 hours after being listed. Rents through the roof, easily 40% or more above normal levels. Nothing out there to rent. I’ve heard of people with 1500 a month budget unable to find rooms in Bristol. People with a years rent upfront told no. Even 2 bed houses in small Welsh towns topping 1100 per month. Its madness and landlords are raking it in.
Young people, please line up and prepare to be milked.
You are nothing more than cash cows for boomers.
The higher the population of the country gets, the worse it’s going to be.
my rent gone up by 33%, tried to look for anything else comparable and turns out the the 33% increase is actually reasonable.
Holding off buying in the hope of a slight decrease in the interest, and then paying upwards of 25% more in rent isn’t the smartest idea.
Absolutely *nothing* to do with the million visas the conservatives handed out by the way.
Definitely not linked.
Its not just lack of availability of these smaller properties, but the fucking state of them as well. Its very noticeable once you start to get down to the lower price points on the market (and by lower we’re still talking £500+pcm these days) you’re basically looking at either a room in a HMO or an absolute shithole that’s suffering badly from lack of maintenance.
I recently let a flat and within hours there were five applicants from Hong Kong all offering 1 year up-front. I’m fully supportive of the government approach to HKers but it has clearly caused a spike in rental demand at least in that area.
(Hoping to get out of the letting game ASAP, just waiting for damn fire certificates to be sorted before I am able to sell – issue with all high rises that few seem to be talking about)
I’ll say it again landlords are the leeches of society. They produce nothing and prevent money being spend elsewhere in the economy. Necessities shouldn’t be an investment opportunity. If you want to invest you should have the balls to be willing to play the stock market. Otherwise you’re just a coward who needs the government to do everything that they can to protect your asset class from failing.
My landlord put rent up the month of the CoL crisis starting. Because we are “lucky” she didnt put it up more and shes still way under market rate.
We pay her £1200 a month on a house on which she has no mortgage.
We also had our front door broken into in february, its basically open and draughty. We gave her the crime number that day.
It still isnt fixed. In those months we’ve paid her £10000.
I hate landlords.
Well, now that no one wants to buy property at this climate and interest rate, the only option is to rent or sleeping in the park. Which park you guys recommend to be the warmest during christmas?
Why can’t there be a system where certain new homes are ‘only’ available for new buyers. Discounts don’t really matter when cash rich landlords can just buy the property outright, so the only way is to bar them off completely from even getting the chance. It doesn’t exactly limit the market as there’s a massive host of FTBs trying to get on the ladder. When they sell up, they can also only sell to first time buyers.
I hate that ‘bidding’ for rent price is apparently a thing now. So disgusting and predatory.
Quelle surprise. I guess the 500k net migration and the lousy social house building programme (or lack thereof) create the perfect storm for renters.
This country is in a fucking right state, basically.
Is this anything to do with the 500k foreign students? The higher mortgage prices meaning more renters? Both?
Its almost as if heavily taxing an industry results in higher costs for the consumer.
Somehow, no matter what happens to the economy, rent never fucking goes down or even stops rising.
It’s times like this I wonder if I might be better off living in a camper van or a canal barge.
Well doesn’t this headline sound like it’s written from an investor incentive point of view…rahhh
It pains me to say this an anti-landlord leftie, but the reforms to stamp duty and the tax treatment of landlords may have backfired slightly… All good ideas in principle, but if the the private sector isn’t providing the required amount of rental accommodation then the state had to be ready to step in (by building more houses) and it clearly wasn’t. In this situation everyone loses apart from the remaining landlords, who are laughing all the way to the bank.
I’m looking at the minute and it’s insane, I was hoping after finishing a PhD and getting a good salary for the city I was moving to I’d be able to afford luxuries like a car or branded biscuits… Nope
I’ve had a rotation of people couch surfing at mine for the last few months. It’s really bad in Glasgow now. The ones that managed to get a place did so because they had rich parents and offered to pay four months at once. That was for a small flat in the cheaper end of town after three months of looking. The others have been looking roughly as long and no such luck. A couple also lost their flat to the Landlords moving in family, then to find their flat up for rent a month later, but for 40% more.
It doesn’t help that Serco is looking for homes to rent to house illegal immigrants. They offer up to 5 years of guaranteed rents to landlords.
Me and my partner have moved in together 2 months ago. £900 in crappy area, we thought it was expensive but now there is barely anything for this sort of price
Half a million new people to house in the past year. Who would’ve thought..
The greatest trick they ever pulled was getting people to refer to homes as ‘properties’
Rentals in my area aren’t even making it to the website. Gone in 48 hours. Owners asking you 8000 questions, god help you if you own a dog.
1000+ for 2 bedroom places near us
Good thing we still have the Town and County Planning Act to suppress Supply
Population keeps increasing this will only get worse
£132,000 that’s how much my landlord has taken from me in 9 years and the rent just went up again.
Our landlord to our surprise decided not to increase the rent and extend the contract for another 2 years. Im not confortable until I sign it.
What else do you think happens when the demand increases faster than the supply. Unsure about about the natural population increase but with a net migration of 500k and about 200k dwellings built. So that’s potentially 300k more people needing housing. Coupled with increasing holiday homes/2nd homes in certain areas reducing availability of housing. A landlord is quids in.
My original plan was to move closer to central London with a friend to save money as my 1 bed flat contract is up in Jan. We had been aiming to live together for years now, and the timing/situations just made it impossible. And once again, just when our lives are finally in sync, the universe said no.
A coworker (who was flat hunting a few months ago) did not recommend flat hunting right now as it’s crazy competitive. He had to set up alerts on his phone and be on constant standby for calls and sudden viewings. So looks like I might be stuck for another year! *Joy.*
And to top it off, there’s a chance that my landlord could raise my rent (still waiting on their response) as the lettings agent could only disclose that the value has most certainly gone up.
Can only pray that my landlord is surprisingly kind at this point.
I * thought* this smelled fishy. The idea that there are suddenly as third as many again people renting than last year is absurd if you think about it for a few seconds. Sure enough, the actual article —
“The number of people enquiring about homes to rent is up 23% on this time last year, according to the property website Rightmove,..”
That’s the *number of enquiries*. Neither RightMove or any other estate agent require primary ID from people making an inquiry, and ov course they don’t de-duplicate those inquiries to identify unique individuals. Its not even *registered* seekers of rentals.
And it’s only a single firm, which obviously may over or under represent activity in the market as a whole, across the entire country.
In short, it’s BS, and shame on the Grauniad for falling for press release journalism.
To misquote Marvin: “The UK housing market, especially renting, is fecked up badly enough as it is without needing to invent any more of it.”
Supply choke + ever increasing population equals this
There’s tenant unions available. Consider ACORN or CATU!
37 comments
I tried to rent recently, its absolutely ludicrous. Nothing lasted 24 hours after being listed. Rents through the roof, easily 40% or more above normal levels. Nothing out there to rent. I’ve heard of people with 1500 a month budget unable to find rooms in Bristol. People with a years rent upfront told no. Even 2 bed houses in small Welsh towns topping 1100 per month. Its madness and landlords are raking it in.
Young people, please line up and prepare to be milked.
You are nothing more than cash cows for boomers.
The higher the population of the country gets, the worse it’s going to be.
my rent gone up by 33%, tried to look for anything else comparable and turns out the the 33% increase is actually reasonable.
Holding off buying in the hope of a slight decrease in the interest, and then paying upwards of 25% more in rent isn’t the smartest idea.
Absolutely *nothing* to do with the million visas the conservatives handed out by the way.
Definitely not linked.
Its not just lack of availability of these smaller properties, but the fucking state of them as well. Its very noticeable once you start to get down to the lower price points on the market (and by lower we’re still talking £500+pcm these days) you’re basically looking at either a room in a HMO or an absolute shithole that’s suffering badly from lack of maintenance.
I recently let a flat and within hours there were five applicants from Hong Kong all offering 1 year up-front. I’m fully supportive of the government approach to HKers but it has clearly caused a spike in rental demand at least in that area.
(Hoping to get out of the letting game ASAP, just waiting for damn fire certificates to be sorted before I am able to sell – issue with all high rises that few seem to be talking about)
I’ll say it again landlords are the leeches of society. They produce nothing and prevent money being spend elsewhere in the economy. Necessities shouldn’t be an investment opportunity. If you want to invest you should have the balls to be willing to play the stock market. Otherwise you’re just a coward who needs the government to do everything that they can to protect your asset class from failing.
My landlord put rent up the month of the CoL crisis starting. Because we are “lucky” she didnt put it up more and shes still way under market rate.
We pay her £1200 a month on a house on which she has no mortgage.
We also had our front door broken into in february, its basically open and draughty. We gave her the crime number that day.
It still isnt fixed. In those months we’ve paid her £10000.
I hate landlords.
Well, now that no one wants to buy property at this climate and interest rate, the only option is to rent or sleeping in the park. Which park you guys recommend to be the warmest during christmas?
Why can’t there be a system where certain new homes are ‘only’ available for new buyers. Discounts don’t really matter when cash rich landlords can just buy the property outright, so the only way is to bar them off completely from even getting the chance. It doesn’t exactly limit the market as there’s a massive host of FTBs trying to get on the ladder. When they sell up, they can also only sell to first time buyers.
I hate that ‘bidding’ for rent price is apparently a thing now. So disgusting and predatory.
Quelle surprise. I guess the 500k net migration and the lousy social house building programme (or lack thereof) create the perfect storm for renters.
This country is in a fucking right state, basically.
Is this anything to do with the 500k foreign students? The higher mortgage prices meaning more renters? Both?
Its almost as if heavily taxing an industry results in higher costs for the consumer.
Somehow, no matter what happens to the economy, rent never fucking goes down or even stops rising.
It’s times like this I wonder if I might be better off living in a camper van or a canal barge.
Well doesn’t this headline sound like it’s written from an investor incentive point of view…rahhh
It pains me to say this an anti-landlord leftie, but the reforms to stamp duty and the tax treatment of landlords may have backfired slightly… All good ideas in principle, but if the the private sector isn’t providing the required amount of rental accommodation then the state had to be ready to step in (by building more houses) and it clearly wasn’t. In this situation everyone loses apart from the remaining landlords, who are laughing all the way to the bank.
I’m looking at the minute and it’s insane, I was hoping after finishing a PhD and getting a good salary for the city I was moving to I’d be able to afford luxuries like a car or branded biscuits… Nope
I’ve had a rotation of people couch surfing at mine for the last few months. It’s really bad in Glasgow now. The ones that managed to get a place did so because they had rich parents and offered to pay four months at once. That was for a small flat in the cheaper end of town after three months of looking. The others have been looking roughly as long and no such luck. A couple also lost their flat to the Landlords moving in family, then to find their flat up for rent a month later, but for 40% more.
It doesn’t help that Serco is looking for homes to rent to house illegal immigrants. They offer up to 5 years of guaranteed rents to landlords.
Me and my partner have moved in together 2 months ago. £900 in crappy area, we thought it was expensive but now there is barely anything for this sort of price
Half a million new people to house in the past year. Who would’ve thought..
The greatest trick they ever pulled was getting people to refer to homes as ‘properties’
Rentals in my area aren’t even making it to the website. Gone in 48 hours. Owners asking you 8000 questions, god help you if you own a dog.
1000+ for 2 bedroom places near us
Good thing we still have the Town and County Planning Act to suppress Supply
Population keeps increasing this will only get worse
£132,000 that’s how much my landlord has taken from me in 9 years and the rent just went up again.
Our landlord to our surprise decided not to increase the rent and extend the contract for another 2 years. Im not confortable until I sign it.
What else do you think happens when the demand increases faster than the supply. Unsure about about the natural population increase but with a net migration of 500k and about 200k dwellings built. So that’s potentially 300k more people needing housing. Coupled with increasing holiday homes/2nd homes in certain areas reducing availability of housing. A landlord is quids in.
My original plan was to move closer to central London with a friend to save money as my 1 bed flat contract is up in Jan. We had been aiming to live together for years now, and the timing/situations just made it impossible. And once again, just when our lives are finally in sync, the universe said no.
A coworker (who was flat hunting a few months ago) did not recommend flat hunting right now as it’s crazy competitive. He had to set up alerts on his phone and be on constant standby for calls and sudden viewings. So looks like I might be stuck for another year! *Joy.*
And to top it off, there’s a chance that my landlord could raise my rent (still waiting on their response) as the lettings agent could only disclose that the value has most certainly gone up.
Can only pray that my landlord is surprisingly kind at this point.
I * thought* this smelled fishy. The idea that there are suddenly as third as many again people renting than last year is absurd if you think about it for a few seconds. Sure enough, the actual article —
“The number of people enquiring about homes to rent is up 23% on this time last year, according to the property website Rightmove,..”
That’s the *number of enquiries*. Neither RightMove or any other estate agent require primary ID from people making an inquiry, and ov course they don’t de-duplicate those inquiries to identify unique individuals. Its not even *registered* seekers of rentals.
And it’s only a single firm, which obviously may over or under represent activity in the market as a whole, across the entire country.
In short, it’s BS, and shame on the Grauniad for falling for press release journalism.
To misquote Marvin: “The UK housing market, especially renting, is fecked up badly enough as it is without needing to invent any more of it.”
Supply choke + ever increasing population equals this
There’s tenant unions available. Consider ACORN or CATU!